Steem (STEEM) Market Capitalization Achieves $62.88 Million

Steem (STEEM) traded down 4.8% against the US dollar during the 24-hour period ending at 11:00 AM E.T. on March 10th. During the last seven days, Steem has traded 18.5% lower against the US dollar. One Steem coin can currently be bought for approximately $0.13 or 0.00000156 BTC on major cryptocurrency exchanges. Steem has a market cap of $62.88 million and approximately $22.87 million worth of Steem was traded on exchanges in the last 24 hours.

Here is how other cryptocurrencies have performed during the last 24 hours:

• Arweave (AR) traded down 12% against the dollar and now trades at $5.94 or 0.00007428 BTC.
• Bitcoin (BTC) traded down 3.7% against the dollar and now trades at $79,959.38 or 1.00000000 BTC.
• Dogecoin (DOGE) traded down 7.9% against the dollar and now trades at $0.17 or 0.00000208 BTC.
• UNUS SED LEO (LEO) traded down 0% against the dollar and now trades at $9.85 or 0.00012317 BTC.
• Bitcoin Cash (BCH) traded 4.1% lower against the dollar and now trades at $354.21 or 0.00442987 BTC.
• Litecoin (LTC) traded 7.3% lower against the dollar and now trades at $92.39 or 0.00115547 BTC.
• Monero (XMR) traded down 7.7% against the dollar and now trades at $202.42 or 0.00253151 BTC.
• Ethereum Classic (ETC) traded down 5.9% against the dollar and now trades at $17.79 or 0.00022246 BTC.
• NyanCoin (NYAN) traded 2.2% lower against the dollar and now trades at $2.40 or 0.00008809 BTC.
• IOTA (MIOTA) traded 3.1% lower against the dollar and now trades at $0.18 or 0.00000223 BTC.

Steem Coin Profile

Steem (STEEM) is a proof-of-work (PoW) coin that uses the PoS hashing algorithm. Its launch date was March 24th, 2016. Steem’s total supply is 502,668,035 coins. The Reddit community for Steem is https://reddit.com/r/steemit and the currency’s Github account can be viewed here. The official message board for Steem is steemit.com/@steemitblog. Steem’s official website is steem.com. Steem’s official Twitter account is @steemit and its Facebook page is accessible here.

According to CryptoCompare, “Steem is a blockchain platform designed to reward content creation and curation with cryptocurrency, launched in 2016 by Ned Scott and Dan Larimer. It uses a Delegated Proof of Stake (DPoS) consensus mechanism, ensuring fast, fee-free transactions and decentralised governance. The platform’s three-token system includes STEEM, the native token used for rewards and liquidity; Steem Power (SP), a vested token for staking and governance; and Steem Dollars (SBD), a stablecoin intended to be pegged to the US dollar but often subject to volatility. STEEM is primarily used to reward users for posting and curating content, peer-to-peer transfers, and staking for governance. SP increases voting influence, while SBD offers a more stable, though fluctuating, form of payment. Steem’s core application is Steemit, a decentralised social media platform where users earn rewards directly from blockchain protocol incentives.”

Steem Coin Trading

It is usually not possible to buy alternative cryptocurrencies such as Steem directly using U.S. dollars. Investors seeking to trade Steem should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, GDAX or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Steem using one of the aforementioned exchanges.

STEEM/USD price chart by TradingView